Rights and Obligations of Both Parties. 7.1 Party A shall have the following rights and obligations: § to draw down and use the Loan according to this Contract; § if Party A repays the Loan before maturity date, it shall obtain prior written consent from Party B and shall compensate Party B against the losses for expected income and relevant expenses; § to bear all expenses incurred under this Contract; § it shall notify Party B at least 30 days in advance of any activities that would have a negative impact upon Party B’s ability to realize its rights such as joint operation, merger, restructuring, sale of material asset, etc. and obtain Party B’s written consent, otherwise, Party A is not allowed to carry out the afore mentioned activity before repayment of the Loan; § to notify Party B of any changes like location, contact address, business scope, legal representative and other commercial register items within 7 days after these changes; § it shall notify Party B immediately the occurrence of any event that will affect its normal operation or solvency under this contract, such as (but not restrain to) severe economic dispute, bankruptcy, financial deterioration etc; § In case of it winding up, dissolution, suspension of operation, revoke of business license, Party A should notify Party B of such events within 5 days after their occurrence and undertake to repay the principal and interest immediately. § Others as agreed.
7.2 Party B shall have the following rights and obligations: § to require Party A to provide all materials related to the Loan; § to deduct the principal, interest, compound interest, penalty interest and other due expenses relating to the Loan under this Contract directly from Party B’s account in accordance with the provisions of this Contract or relevant law; § in case of Party A’s evasion of Party B’s monitoring, default in payment for due principal or interest and other severe breach of the Contract, Party B is entitled to impose credit penalty against Party A, notify relevant departments or entities of such breach and put up payment demand notice on public media; § to provide loan to Party A in time according to the provisions of the Contract (except for the delays due to Party A’s reason); § to keep confidential of the information and materials provided by Party A..
Rights and Obligations of Both Parties. 1. Party A shall provide support to Party B in accordance with Article 6 of this agreement.
2. Party B shall promote and sell Party A's products in Yunnan province (region) in strict accordance with the contents agreed in this agreement, and shall not engage in any act unrelated to the promotion and sale of Party A's products in the name of Party A, otherwise Party A has the right to refuse to approve. Therefore, if Party A's economic losses are caused, Party A has the right to cancel Party B's product agency qualification at any time and ask Party B to bear all economic losses and all rights protection expenses (including but not limited to attorney fees, legal fees, arbitration fees, preservation fees, guarantee fees, etc.) caused by Party A.
3. Party A has the right to supervise and manage Party B's behavior, and has the right to ask for modification of Party B's behavior that is detrimental to Party A. Party B shall make effective rectification within 3 days after receiving the rectification notice put forward by Party A, and take timely measures to eliminate the negative impact if it causes external impact.
4. Party B shall not sell to areas outside the agreement for any reason, otherwise Party A has the right to terminate this agreement at any time.
5. Party B only has the right to promote the cooperation between Party B and the third party in Yunnan Province (region), and has no right to sign an agreement on behalf of Party A. If Party B signs an agreement on behalf of Party A without authorization, Party A has the right to reject it. If the agent recommended by Party B in the pre-reporting list directly signs the purchase with Party A, the agent's purchase will be regarded as Party B's purchase, and will be included in Party B's performance during the assessment.
6. Before the agreement signed by both parties comes into effect, the sales reported and authorized by Party A are not within the scope of the agreement, including the repurchase behavior of the customer in the future, and are not bound by this agreement.
Rights and Obligations of Both Parties. 1. The First party is obligated to open a current account for the second party and to exert the necessary care to implement their orders on the account within the limits of banking regulations, rules, and norms. The First party is not responsible for any damage arising from the implementation of these orders unless this damage is a result of gross negligence, willful misconduct or failure to undertake the necessary diligence intended for the purposes of implementing this agreement; Caring, skill, prudence, and diligence according to the conditions that are expected to perform - within the reasonable limits - from any facility.
2. The First party has the right to benefit from the amounts deposited in the current account for their benefit, with their full commitment to enable the Second party from these amounts immediately upon their request. The Second party may not claim any profits from that, provided that the two parties may have an independent agreement to arrange the relationship in which the Second party can obtain Profits from those amounts.
3. The Second party is prohibited from using the account for any unlawful purpose or activity. They must inform the First party in the event of any objection or suspicion of operations taking place on their account, and the lapse of thirty days from the date of carrying out any operation without the Second party’s objection shall be considered as an approval and confirmation of its security.
4. The First party may collect a specific fee from the Second party in exchange for the services it provides. It may collect it directly without referring to the Second party, provided that these fees are not contradict with the regulations issued by the Saudi Central Bank and to be published in the branches of the First party and its website within (30) days before the fees are imposed.
5. The Second party shall bear any expenses or taxes imposed by the state regarding any services or products provided by the First party to the Second party, whether they are imposed now or might be imposed in the future.
6. The First party informs the Second party via text messages at the mobile phone number mentioned in the agreement - or any other means agreed upon - of the following:
i. All transactions executed on the current account as soon as they occur.
ii. Prior to the change of the account status, in a sufficient period of time.
7. The Second party is obligated to update the personal identity and their information recorded in the ag...
Rights and Obligations of Both Parties. 7.1 Borrower shall not use the proceeds of the Loan for any usage not stipulated in this Contract.
7.2 Borrower shall repay the Loan under this Contract and pay the interest hereunder in accordance with the date, amount, currency set forth in this Contract.
7.3 Lender has the right to retrieve the principal, receive interest (including compound, overdue and appropriated penalty interest) and the necessary expenses from the Borrower in accordance with this Contract. Lender has the right to exercise any other rights under the relevant laws and regulations or stipulated in this Contract.
Rights and Obligations of Both Parties. 2.1 In order to ensure that Party B can effectively carry out its work, Party A shall provide Party B with the following working conditions and cooperate in completing the following matters:
2.1.1 Party A shall provide Party B with a list of OEM notification requirements;
2.1.2 Party A shall provide Party B with basic guidance and other work;
2.2 Party A shall submit vehicle announcements to the Ministry of Industry and Information Technology of the People’s Republic of China through Party B. The specific public announcement model, parameters and other relevant data shall be provided by Party A. Party B, as the OEM, shall be responsible for assisting Party A in submitting the relevant data, only providing basic assistance such as facilitating the submission, and shall not be responsible for product technical parameters.
2.3 The announcements submitted by Party A shall be limited to Party A and its affiliates. Without the authorization of Party A, Party B shall not use the announcements submitted by Party A without authorization.
Rights and Obligations of Both Parties. 4.1 Party A shall have the materials, materials and materials provided to Party B owned by the copyright owner. Party B shall keep the materials, Party A shall deliver the hard disk and array of the tools bearing the materials to Party B. Party B shall return the corresponding equipment to Party A as required by Party A.
4.2 Party B shall prepare all equipment required for the special production and technical indicators to meet the industrial or national standards, It shall complete the service and production and modification under this Contract on time and upon other requirements, Copy the final finished version of the play and the relevant data documents to Party A; If due to Party A (such as the materials needed by Party B, Party A fails to deliver to Party B on time) If Party B fails to deliver the work results according to the final schedule approved by Party A, The extension of the delivery time shall be negotiated by both parties, At the same time, Party B shall not bear the corresponding liability for breach of contract. Party A shall have the right to understand the production progress of the virtual lens at any time.
4.3 Party B shall not return or deliver any materials, materials, materials provided by Party A and the virtual content produced by Party B to the personnel not designated by Party A.
4.4 If Party B fails to implement the production plan confirmed by both parties and causes the work results to fail to pass the acceptance by Party A, Party B shall rework it until approved by Party A. In case of any conflict of opinions, both parties shall carefully study and negotiate. If it cannot be resolved, Party A’s opinions shall be taken as the final solution, and Party B shall not terminate the work or neglect in any way. If Party A puts forward additional ideas or requirements after both parties determine the production plan and Party B has completed the production, the production cycle of the new production content shall be determined by both parties through separate negotiation.
4.5 Party B shall confidential to Party B the materials (including shooting materials, creator information, modeling, costumes, plots, audio, etc.), and all information, pictures, actors’ remarks and behaviors at the shooting scene of the drama, and shall not provide them to any anyone other than the staff designated by Party A. Party B shall properly manage the relevant staff of Party B involved in the work under this contract, and shall sign a confidentiality agre...
Rights and Obligations of Both Parties. Party A’s rights and obligations
Rights and Obligations of Both Parties. 4.1 Party B undertakes to have the right to provide information services to Party A in accordance with this contract, and to ensure that the content of the service platform provided by Party B and the technology and equipment used will not violate laws, regulations, policies and public moral principles, nor will it damage the legal rights of any third party. rights and interests. If Party A suffers losses due to Party B’s breach of the aforementioned guarantee, Party A has the right to claim compensation from Party B.
4.2 Party A has the right to check and accept the phased results and final results of the information service in accordance with the service content and standards agreed in this contract .
4.3 If the service needs to be interrupted due to the maintenance of the service system of Party B or the media party, Party B shall notify Party A in time after receiving the notification from the media party, and restore the information service when the system returns to normal. The interruption time shall not be counted within the service period. At the same time, the losses caused to both parties are not considered as breach of contract.
4.4 Party A guarantees that Party A’s products or services comply with relevant industry quality standards and assumes all legal responsibilities such as user complaints caused by Party A’s product defects; Party A guarantees that the content of information services entrusted to Party B to provide is true and legal, and that Party A’s products do not contain malicious Code, no malicious page jumps, hidden fees, etc.; Party A guarantees that the intellectual property rights of Party A’s products and all other rights do not infringe on the legitimate rights and interests of third parties. If Party A violates the above commitments, Party B has the right to terminate this contract and require Party A shall bear the economic loss caused to Party B.
4.5 Party B shall ensure the authenticity and effectiveness of the information service data.
Rights and Obligations of Both Parties. 3.1 Party A ensures that the project has the operation qualification, complies with national laws and regulations, does not illegally operate or beyond the business scope of Party A, and there is no illegal infringement of the third-party intellectual property rights. Party A guarantees the independence, integrity and undisputed nature of the property rights involved in the project.
3.2 Both parties and related parties shall maintain the business reputation of the other party and shall not damage the reputation and interests of the other party.
3.3 Party A and Party B both confirm that: Before signing this cooperation Contract, Party B has a good understanding of all potential risks during the cooperation. The cooperation is on the basis of authenticity, voluntary and independent responsibility of Party B, and Party B is willing to bear the above risks by itself. Party A guarantees that it’s able to fulfill its commitments and obligations to Party B.
3.4 The Rights and Obligations of Party A
3.4.1 Party A shall be responsible for the overall operation of the project. Party A shall rely on its national recycling business and service capabilities, provide stable supply and sales channels for regional cooperation, and empower the regional traditional recycling to upgrade to a whole new operation mode based on the combination of internet technology, door-to-door recycling and centralized sales.
3.4.2 Party A shall be responsible for the construction of recycling, warehousing and logistics system (including physical warehouse and cloud warehouse/online warehousing system), the output of standardized management, and providing independent research and development of recycling order grabbing system, SaaS sorting system, as well as the training and output of operation, management and technical personnel.
3.4.3 Party A shall be responsible for opening the daily business information inquiry account for Party B (and connect with the system data of the operation management platform), and ensure that the data are authentic and accurate, so that Party B can be aware of the regional operation situation in real time.
Rights and Obligations of Both Parties. I. Rights and obligations of the Lender
